Honda F1 team not yet sold it appears

Both Carlos Slim, the Mexican billionaire that was linked with the Honda Racing F1 Team, and Ross Brawn have denied reports that the owner of the Telmex racing team has bought the Brackley-based outfit.

A statement on the website of the Telmex team read: "The Telmex Team can confirm that Carlos Slim Helu has not bought the Honda Formula One team nor is holding any negotiations to do so, therefore all information related to this subject has no basis and is completely false."

Ross Brawn on his turn spoke with the 'Daily Telegraph'. He said: "We would love it if it were true, but it's pure speculation from various members of the media. It's just been one of those rumours which has developed a life of its own.

"We haven't really lost anything yet as it has still only been a few weeks. Everything is in place although we have had to turn down various programmes. We have enough funding to get us through to Melbourne and we still have a competitive package.

"We're all hopeful that something will happen and we're anxious to turn up the wick again in the new year."